$700,000.00 Term Loan to support office improvements to an international non-profit organization
$475,000.00 Commercial Mtg for the acquisition of a property located in Port Chester, NY
$900,000 line of credit for a Westchester County based law firm
$1.7 Million for land acquisition and site development in Orange County
$1.6 Million for the construction of an adult community in Rockland County
Contact: Jenet Ferris
FOR IMMEDIATE RELEASE
GREATER HUDSON BANK, N.A. ANNOUNCES LATEST EXPANSION PLAN
Monroe, NY will be 3rd branch in Orange County
Middletown, N.Y., March 5, 2012 – Greater Hudson Bank, N.A. ("the Bank") (OTCQB: GHDS), is pleased to announce that the Bank has received approval from the Office of the Comptroller of the Currency to open its newest branch location at 360 Route 17M in Monroe. This will be the Bank’s fifth branch location and third branch in Orange County, NY. The Bank anticipates operating a full service branch at this location where it will service new and existing consumer and commercial clients with an array of banking products and services including checking, savings and certificate of deposit accounts; diverse business and consumer loan options as well as consumer and business electronic banking alternatives. Features include the convenience and security of 24-Hour ATM banking, a drive-up window, safe deposit boxes, and a night-drop. The Bank anticipates the branch grand opening this spring.
"The Bank is looking forward to our further expansion in the Hudson Valley and more specifically the Orange County marketplace. This newest location presents us with the opportunity to bring our banking products and highly personalized customer service to consumers, corporate and small business owners, entrepreneurs, and real estate developers and professionals in the area," said Eric J. Wiggins, president and chief executive officer of Greater Hudson Bank.
“We are assembling a highly qualified group of professionals to oversee the operations of the Monroe office. Our most recent addition, Alexander Jamieson, joined the Bank as a Commercial Lender in December 2011. Alex has over 15 years of banking experience, covering all aspects of banking from retail to commercial business. He was most recently with Key Bank as a Business Banking Advisor and presently serves as a councilman for the Town of Chester. We are confident that his extensive banking knowledge as well as his local relationships in Monroe and the surrounding towns will be instrumental in building our brand of banking in the local area,” said Lynne C. Allan, executive vice president and chief operating officer.
To make banking with Greater Hudson a simple process, the Bank has made recent technological enhancements to significantly upgrade its online and electronic banking services and has introduced an “easy switch kit” to make changing banks easier for new customers. Further information can be found on the Bank's website at www.GreaterHudsonBank.com.
Greater Hudson Bank, N.A founded in 2002, is headquartered in Middletown, New York. The Bank has 5 branches which are located in Middletown, Monroe and Warwick, Orange County, New York, Bardonia, Rockland County, New York, and White Plains, Westchester County, New York. The Bank is chartered by the Office of the Comptroller of the Currency and its deposits are insured by the Federal Deposit Insurance Corporation. As evidence of the Banks’ financial strength, Greater Hudson Bank has been recognized with a superior rating by the country’s leading independent bank rating and research firm, BauerFinancial, Inc. Further information can be found on the Bank's website at www.GreaterHudsonBank.com.
Forward-Looking Statements: This Press Release may contain certain statements which are not historical facts or which concern the Bank's future operations or economic performance and which are to be considered forward-looking statements. Any such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Bank cautions that all forward-looking statements involve risk and uncertainties, and that actual results may differ from those indicated in the forward-looking statements as a result of various factors, such as changing economic and competitive conditions and other risk and uncertainties. In addition, any statements in this news release regarding historical stock price performance are not indicative of or guarantees of future price performance.